Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, November 7, 2012

Reigning The Nifty 6th November 2012

Half Hourly Chart

The breakout was maintained but 5725 level still proves a difficult level to cross.A  doji was formed once again continuing the indecision.
 A potential Inverse head and shoulder is seen forming with the neckline at 5710.A close above this level will take the Nifty to 5845 levels.Till the gap support at 5645-5679 is held expect the target of 5845 to be achieved.
 Support at 5679 and gap support at 5679-5545 if broken then the low made at 5583 can be retested. Lower highs at 5711 after 5725 will be confirmed if 5583 were to breakdown.

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Happy Trading !!

Lakshmi Ramachandran

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